Nippon Steel Corp. CEO Eiji Hashimoto on Tuesday denounced U.S. President Joe Biden’s decision to block its $14.1 billion acquisition of United States Steel Corp., saying he believes the order was politically motivated and reiterating that the company will seek to have it annulled in court.
“A review of the deal by the Committee on Foreign Investment in the United States was not properly conducted due to President Biden’s illegal intervention,” said Hashimoto, also the Nippon Steel chairman, at a press conference in Tokyo. “We can never accept this.”
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